EMERSON C. HARRINGTON, GOVERNOR. 49

first year. The articles of association shall be executed in
triplicate by the persons joining therein before any offi-
cer authorized to take acknowledgments, and then filed with the
Bank Commissioner for examination. The Bank Commissioner
shall thereupon ascertain from the best sources of information
at his command, and by such investigation as he may deem
necessary, whether the character, responsibility and general
fitness of the person or persons, named in such certificate, are
such as to command confidence and warrant belief "that the
business of the proposed corporation will be honestly and effi-
ciently conducted in accordance with the intent and purpose of
this Article, and whether the public convenience and advantage
will be promoted by allowing such proposed corporation to en-
gage in business. After the Bank Commissioner shall have
satisfied himself by such investigation whether it is expedient,
and desirable to permit such proposed corporation to engage
or continue in business, he shall have power to require such
changes in said certificate as he may deem necessary. He
shall within sixty days after the date of the filing of such certi-
ficate for examination, endorse upon each of the triplicates
thereof, over his official signature, the word "approved" or the
word "refused" with the date of such endorsement. In case
of refusal he shall return one of the triplicates so endorsed to
the proposed incorporators. In case of approval, the triplicates
shall be returned to the proposed incorporators, and shall then
be submitted to one of the judges of the judicial circuit in
which the savings institution is to be located, in order that he
may determine whether the said articles are framed in accord-
ance with existing laws. One copy shall then be filed for
record in the office of the Clerk of the Circuit Court in the
county in which the institution is to be located, or in the office
of the Clerk of the Superior. Court of Baltimore City, when
to be located in said city, and one copy shall be filed with the
Bank Commissioner, who shall issue his certificate therefor,
and one copy shall be filed with the State Tax Commission.
The corporation so formed shall have no legal existence
until all copies of the articles of association, shall have been
filed for record as herein directed. The fee for filing such
articles of incorporation with the Bank Commissioner shall be
ten ($10. 00) dollars, and for filing amendments to the articles
of incorporation, five ($5. 00) dollars, all such fees to be col-
lected by the Bank Commissioner. Provision shall be made in
the by-laws of the association for annual meetings for the pur-
pose of electing directors and members, and the transaction of